Blur

Million

Daily

<a href="https://bitcoinworld.co.in/okx-leads-in-nft-marketplace-with-50-33-million-daily-trading-volume/" title="OKX Leads In NFT Marketplace With $50.33 Million Daily Trading Volume" rel="noopener noreferrer nofollow"></a>
<ul>
 <li style="font-weight: 400">OKX NFT platform takes the lead with a staggering $50.33 million daily trading volume, surpassing competitors Blur and OpenSea.</li>
 <li style="font-weight: 400">OKX’s strategic move to enable trading of Bitcoin Ordinals NFTs propels its growth, leaving rivals behind and contributing to the broader surge in Bitcoin NFT trading.</li>
</ul>
OKX’s NFT trading platform has surged ahead, surpassing industry giants Blur and OpenSea in daily trading volume.&nbsp;
As of 2 p.m. Hong Kong time, the OKX NFT Marketplace <a href="https://dappradar.com/rankings/nft/marketplaces" rel="noopener noreferrer nofollow">recorded</a> an impressive 24-hour trading volume of $50.33 million, establishing itself as the foremost NFT marketplace based on daily trading activity.
<h3 id="span-style-font-weight-400-bitcoin-ordinals-nfts-drive-okx-to-the-top-span">Bitcoin Ordinals NFTs Drive OKX To The Top</h3>
OKX’s rise to prominence can be attributed to its strategic decision to enable the trading of Bitcoin Ordinals NFTs.&nbsp;
Nick Ruck, Chief Operating Officer of ContentFi Labs, remarked, “OKX has become the number one NFT marketplace after enabling trading of BTC Ordinals NFTs.”&nbsp;
This move has propelled OKX ahead, leaving competitors Blur and OpenSea trailing behind in terms of volume, as they have yet to facilitate the trading of Bitcoin-based NFTs.
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<h3 id="span-style-font-weight-400-cryptocurrency-market-dynamics-and-okx-s-strategic-support-span">Cryptocurrency Market Dynamics And OKX’s Strategic Support</h3>
The broader cryptocurrency market has witnessed a surge in NFT trading volume on the Bitcoin network, reaching $305.44 million from December 10 to December 17, up from $121.28 million in the previous week, according to CryptoSlam data.&nbsp;
R.J. Ke, a researcher at Ethereum scaling firm Taiko, pointed out that OKX’s remarkable growth can be attributed to its strategic support for BRC-20 tokens and Bitcoin Ordinals.&nbsp;
This includes collaborations with the UniSat Wallet to develop a cross-verification process for BRC-20 transaction indexing on the Bitcoin blockchain and the creation of an official BRC-20 explorer.
However, Ke emphasized the need to recognize the inherent volatility and saliency bias in investment markets, especially within the nascent and dynamic cryptocurrency sector.&nbsp;
He noted that the crypto market’s relative immaturity, scarcity of extensive historical data, and the prevalence of retail investors susceptible to market hype contribute to this bias.
<h3 id="span-style-font-weight-400-bitcoin-ordinals-trend-gains-traction-span">Bitcoin Ordinals Trend Gains Traction</h3>
Bitcoin Ordinals NFTs have been a focal point in the industry, attracting attention from various firms looking to capitalize on the trend.&nbsp;
Tap Protocol, a notable player in the space, recently announced securing $4.2 million in funding over the weekend to further develop on Bitcoin.
OKX’s ascendancy in the NFT marketplace underscores the growing influence of Bitcoin Ordinals NFTs and strategic support for BRC-20 tokens.
The post <a href="https://bitcoinworld.co.in/okx-leads-in-nft-marketplace-with-50-33-million-daily-trading-volume/" rel="noopener noreferrer nofollow">OKX Leads In NFT Marketplace With $50.33 Million Daily Trading Volume</a> appeared first on <a href="https://bitcoinworld.co.in" rel="noopener noreferrer nofollow">BitcoinWorld</a>.

OKX Leads In NFT Marketplace With $50.33 Million Daily Trading Volume

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